Leading New York firm Cleary Gottlieb Steen & Hamilton has closed a $1.74bn debt offering for Citigroup as part of a wider $15bn debt offering, after winning a competitive tender held by the US bank.

The deal is a landmark instruction for Clearys, which won a tender last year to act as designated underwriters’ counsel for Citigroup, the first time the New York leader has advised the bank on such work.